The Caribbean Development Bank (CDB) has earmarked US$1.5 million for a trade facilitation programme aimed at stimulating growth and development in the Belizean economy.

Described as a “multi-pronged intervention”, the CDB said the programme will advance national and global agendas focused on improving the life of citizens. To this end, it seeks to increase trade, create an enabling environment and improve competitiveness with a view to “fuel the growth engine driving Belize’s development”.

According to CDB President Dr Gene Leon, the initiative benefit Belize’s farmers, exporters, manufacturers and business community.

“CDB, as the second-largest contributor to the Government of Belize’s current suite of development-related projects, has clearly signalled our intent to sustain and increasingly collaborate with the Government and development partners to attain key social, economic, environmental, and institutional targets,” he remarked at the launch of the programme, during his inaugural visit.

He also highlighted the alignment between the Government’s vision and the CDB’s goals for the Central American country.

The US$1.5-million disbursement will be allocated to four projects, two of which are financed by the CDB and the other two through the EU-funded Economic Partnership Agreement and Caricom Single Market and Economy Standby Facility. Both public and private sector stakeholders will be integral in the implementation of the projects.

The projects include Enhancing the Capacity of the Government of Belize to Facilitate Trade; Development of a Risk-based Sanitary and Phyto-Sanitary Import and Export Control System for Belize; Increasing Patricipation of the Belizean Cacao Industry in the Cacao-Chocolate Global Value Chain; and Enhancing the Belize National Quality Infrastructure.

“Through this suite of initiatives Belize will be on its way to identifying and clearing bottlenecks at its ports and embracing new technology to increase efficiency in public departments facilitating trade and export,” the CDB explained.

Dr Leon, accompanied by a delegation from the CDB that included Director of Projects Daniel Best, met with Prime Minister of Belize Johnny Briceno, representatives of the Central Bank of Belize and private sector interest groups — Belize Chamber of Commerce and Industry and the Citrus Growers Association.

The team also met with several agencies to identify partnership opportunities in the private sector, as well as visited projects previously funded by the CDB.

“We are buoyed and encouraged as the bank’s strategic partnerships were strengthened and potential new projects identified on a successful and rewarding mission to a founding member of the Caribbean Development Bank,” Leon said.